UPDATE [3:30 PM CST]: The arguments have concluded, but you can still watch the full proceedings by clicking the video above, or by clicking here.
The action begins at around the 15:00 mark of the video.

It’s been nearly 15 months since Illinois’ pension overhaul was passed, and 13 months since the first lawsuits began rolling in.
Now, the state and its public workers are finally squaring off in the halls of the state Supreme Court.
Arguments over the constitutionality of the law, SB-1, begin on Wednesday.
From the Chicago Tribune:
More than a ...

Arguments will soon be underway in the lawsuit challenging the constitutionality of Illinois’ 2013 pension overhaul.
Many observers expect the state Supreme Court to uphold the opinions of lower courts and rule the pension law unconstitutional.
If the law were overturned, what would it mean for Chicago Public Schools?
In a column in the Chicago Tribune ...

Two lawsuits, both challenging the legality of recent pension reforms enacted by Chicago, have been put on hold until the Illinois Supreme Court rules on the state’s pension overhaul.
The plaintiffs filed the motion to put the lawsuit on pause, and it was approved on Thursday.
More from Reuters:
Lawsuits seeking to void a law aimed at shoring up ...

The Illinois Supreme Court announced on Thursday a specific date and time for oral arguments in the state’s high-profile pension lawsuit.
The arguments will be held on March 11 at 2:30 pm, CST, according to the Associated Press.
Unions, retirees and retiree groups are suing the state over a pension overhaul passed in late 2013. The law cuts benefits ...

Illinois Gov. Bruce Rauner will give his budget address on Wednesday afternoon. He’ll announce a number of cost-cutting proposals, and pensions are sure to be featured.
What specifically does Rauner have in mind for the state pension system?
Greg Hinz of Crain’s Chicago Business got a hold of budget documents that hint at Rauner’s plans.
From ...

The City of Chicago filed a brief with the state Supreme Court last week in support of the state’s pension reform law, in part because the city has its own set of pension reforms that could be impacted by the ruling.
But even a ruling overturning the state’s pension law might not affect Chicago’s own reforms, a lawyer for the city said Wednesday.
From ...

When talking pensions on the campaign trail early in 2014, Bruce Rauner said that new hires, current workers and retirees all would need to be on the receiving end of pension benefit cuts.
But Rauner has softened that stance in recent months; the Illinois governor now says the benefits accrued by current workers and retirees need to be protected.
From ...

The City of Chicago submitted a brief to the Supreme Court this month supporting the legality of the state’s pension reform law.
That’s because a court decision against the pension law wouldn’t bode well for the legal standing of the city’s own set of pension reforms. Chicago’s lawyers said in the brief that a “catastrophic outcome” should ...

Lawyers representing groups challenging Illinois’ pension reform law asked for more time to file arguments this week. The request would have extended the deadline by a month.
The judge presiding over the case rejected that request on Thursday.
From the Associated Press:
The Illinois Supreme Court has rejected a request for an extra month to file arguments ...